Bossaapp.com claims to offer high returns by using an AI trading bot that trades cryptocurrencies. The company promises investors returns of up to 500% on their investments. However, there are several red flags that indicate Bossaapp.com might be a scam.
Is Bossaapp.com Legit
Based on our research and user reviews we found that Bossaapp.com might be a scam. Here are some red flags to justify this:
No Information About the Owner
The first red flag is that there is no information available about who owns or runs Bossaapp.com. The website does not disclose any information about the company owners, managers, or location.
Fraud Warning (BaFin)
Bossaapp.com has received a warning for securities fraud from BaFin, the German financial regulatory agency. In September 2022, BaFin issued a warning stating that Bossaapp’s business activities may violate German financial regulations. This indicates that German authorities believe Bossaapp.com could be operating illegally.
No Evidence of AI Trading Bot
There is no evidence that Bossaapp.com actually uses an AI trading bot to generate returns. We could not find any information showing the performance of the supposed AI bot in action.
This leads me to believe that Bossaapp.com may simply be paying returns to new investors using money from new deposits.
High Returns
Many Ponzi schemes and other investment scams initially pay high returns to attract more investors. Once new investment slows down, the operators make up excuses like being hacked or needing to pay taxes to cover up the fact they have run out of money to pay returns.
Bossaapp.com’s unsustainably high return promises, combined with its shady and unlicensed nature, indicate it could operate similarly.
Not Licensed
Finally, Bossaapp.com is not licensed or regulated by any financial authority. The website does not disclose any registrations or licenses that would give investors recourse if something goes wrong.
There are numerous red flags that indicates Bossaapp.com might be a scam. The company’s promises of outsized returns, lack of transparency, warnings for securities fraud, and unlicensed status all point to a high probability that Bossaapp.com is a fraudulent investment.
We would advise extreme caution and recommend avoiding investing any money with Bossaapp.com.
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